Elevation Point Wealth Partners LLC Buys New Shares in Equinor ASA $EQNR

Elevation Point Wealth Partners LLC purchased a new stake in shares of Equinor ASA (NYSE:EQNR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 29,632 shares of the company’s stock, valued at approximately $1,250,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. UMB Bank n.a. grew its stake in shares of Equinor ASA by 1,794.0% during the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock valued at $30,000 after acquiring an additional 1,202 shares during the period. Global Retirement Partners LLC boosted its holdings in Equinor ASA by 86.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock worth $31,000 after buying an additional 610 shares during the period. McIlrath & Eck LLC purchased a new stake in Equinor ASA in the 2nd quarter worth $36,000. Sound Income Strategies LLC raised its holdings in Equinor ASA by 119.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,876 shares of the company’s stock valued at $48,000 after acquiring an additional 1,020 shares during the period. Finally, Arax Advisory Partners raised its holdings in Equinor ASA by 78.6% during the fourth quarter. Arax Advisory Partners now owns 2,377 shares of the company’s stock valued at $56,000 after acquiring an additional 1,046 shares during the period. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Equinor ASA Price Performance

Shares of Equinor ASA stock opened at $32.08 on Tuesday. The stock has a market cap of $94.48 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.07 and a beta of 0.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.24. The stock has a 50 day moving average price of $36.38 and a 200-day moving average price of $32.64. Equinor ASA has a one year low of $22.26 and a one year high of $43.46.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.47. The company had revenue of $28.40 billion for the quarter, compared to analyst estimates of $28.73 billion. Equinor ASA had a return on equity of 20.01% and a net margin of 5.30%. Equities analysts expect that Equinor ASA will post 4.93 EPS for the current year.

Equinor ASA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Friday, August 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.56 annualized dividend and a dividend yield of 4.9%. Equinor ASA’s dividend payout ratio is currently 58.72%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EQNR shares. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Friday, March 20th. Weiss Ratings upgraded Equinor ASA from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. DZ Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $40.40 target price for the company in a research report on Tuesday, March 24th. Finally, TD Cowen cut their target price on shares of Equinor ASA from $42.00 to $37.00 and set a “hold” rating for the company in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $38.70.

About Equinor ASA

Equinor ASA (NYSE: EQNR) is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway’s petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor’s operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.